# Question 27 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Q-27. - CH-2 - Usha Book 2018 - Solution

Question 27 Chapter 5 of +2-Part-1

27. (New Partner doesn’t bring G/W in Cash) X, Y and Z am partners in 5:3:2 ratio. A admitted for 1/10 share. He hrings capital Rs. 40,000 Goodwill is valued for the firm Rs. 30,000 New partner does not bring goodwill in cash New ratio, is 4:4:1:1. Pass the journal entries.

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## The solution of Question 27 Chapter 5 of +2 Part-1: –

 Journal Date Particulars L.F. Debit Credit i) Cash A/c Dr. 40,000 To A’s Capital A/c 40,000 (Being existing goodwill written off . ) ii) A’s Capital A/c Dr. 3,000 To X’s Capital A/c 1,500 To Z’s Capital A/c 1,500 (Being A’s goodwill adjusted in sacrificing Ratio i.e. 1:1) iii) Y’s Capital A/c Dr. 3,000 To X’s Capital A/c 1,500 To Z’s Capital A/c 1,500 (Being Y’s Share goodwill adjusted in sacrificing Ratio i.e. 1:1)

Working Note

Sacrificing Ratio = Old share of old partners – New share

 X’s sacrifice = 5 – 4 10 10 = 1 10
 Y’s sacrifice = 3 – 4 10 10 1 = 1 10
 Z’s sacrifice = 1 – 1 10 10 = 1 10
 Goodwill to be brought by Y and A = 30,0000 x 1 10 = Rs 3,000 Each

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